FXCM currency strategist John Kicklighter doesn’t believe the re-established correlation between USD and equities will be a lasting one.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
FXCM market analyst Jamie Saettele believes the AUD could rise to 1.10 against the USD (Elliott Wave analysis).
Oil and stocks rocked and rolled last night on the Twitter-flow of rumours out of Libya. Dow down 37. (Locked for subscribers until 10:00 AEDST)
Saudi Arabia has moved to head off revolt with a huge social assistance package while the madman is still ranting in Libya. Oil surged last night, Wall Street fell. Dow down 107. (Locked for subscribers until 10:00 AEDST)
Having missed a session for Presidents’ Day, Wall Street’s 2% plunge last night brought it into line with world markets in reaction to the Libyan situation. Dow down 178.
With the US closed, stocks in Europe fell as the death toll mounted in Libya.
Michael Wright, Currency Analyst at FXCM, believes investors will be best off if they prepare for euro weakness.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
ATW’s Jerry Simmons explains the principle of a “bracket trade”.